By Commodity News Service Canada
Winnipeg, July 2 – The Canadian dollar was lower against its US counterpart at midday Wednesday, as it was unable to sustain gains made earlier in the day amid mixed commodity prices.
The American dollar made advances after US payrolls firm ADP reported that the private sector created 281,000 jobs during the month of June.
Oil prices have been climbing due to geo-political tensions in the Middle East.
The August gold contract rose $2.90 cents to US$1,329.50 an ounce, which was supportive. The August crude oil contract fell $0.26 cents to US$105.08 a barrel.
At 11:50 CDT Wednesday, the Canadian dollar was trading at US$0.9392 or US$1.0647, which compares with Tuesday’s North American close of US$0.9372, or US$=$1.0670.
At 11:50 CDT Wednesday, the Toronto Stock Exchange was up 51.76 points to sit at 15,131.76.
